logo

Towards Entrepreneurial Strategy for Caffeine SME

   

Added on  2021-02-20

16 Pages4623 Words292 Views
ENTREPRENEURIALSTRATEGY

EXECUTIVE SUMMARYThe report follows the various entrepreneurial strategies like BCG matrix and McKinsey 7Sframework and their importance in shaping the business. The project focuses on the legendarychef Caffeine restaurant. Although, the restaurant is the SME in United Kingdom but still thereare certain changes that they need to prevail because the restaurant chain has not seen significantgrowth in the past few years, the sales have remained stagnant.This report includes detailed analysis of company by performing SWOT analysis, PESTLEanalysis and applying management tools like McKinsey's' 7S framework, Porter's value chainmodel, BCG matrix and lastly Ansoff matrix. A combination of these management tools can helpin identifying the problems faced by the restaurant chain company that are hampering its growth.Also, it identifies the ways to overcome these problems and move forward as a company. Belowis shown the detailed diagnosis of Caffeine restaurant and at last a conclusion has been made.The report will mainly emphasise on different entrepreneurial strategies and the position of thecompany. Lastly, it will cover the organizational objectives of the organisation that will helpthem to grow.

Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................4B. Evaluating a range of entrepreneurial strategies that can be used to develop or consolidatethe situation ................................................................................................................................4C. Analysing organization's strategic situation, its capability and position and developobjectives.....................................................................................................................................9D. Organisational objectives.....................................................................................................12CONCLUSION .............................................................................................................................14REFERENCES..............................................................................................................................15

INTRODUCTIONAn entrepreneur is a person who creates a new product or a business with his innovation andcreative ideas. He bears huge risks but also enjoys the rewards for these risks. An entrepreneurhas multiple roles to play. He has to make some strategies in order to make the venturesuccessful. Entrepreneurial strategy is concerned with development of creative and innovativeproducts or services in a competitive market. These strategies can help in better decision makingwhich will improve company's future growth prospects. Today, Hotel and Restaurant industry isone of the fastest growing industries in the world. Hospitality and tourism are one of the fastestgrowing industries where young entrepreneurs wish to invest their mind and money. One suchrestaurant is Restaurant Caffeine restaurant located in London, United Kingdom. Founded in1998, by famous chef Caffeine restaurant the restaurant has won three Michelin stars and is saidto be one of the best restaurants in the entire Britain. The current report will follow theentrepreneurial strategy adopted by Caffeine restaurant, growth and expansion of the restaurant,challenges face by them and how did they overcome it. (Eshima and Anderson, 2017).The aim of this report is critically evaluate entrepreneurial strategies such as BCG matrixto identify the area where the restaurant needs to work on and the area which has already beenimproved. The report will also practice Mckinsey's 7S strategies to analyse different strengths of thecompany.Porter's value chain model is important to identify the competitive advantage that thecompany has.B. Evaluating a range of entrepreneurial strategies that can be used to develop orconsolidate the situation The McKinsey 7S framework is a popular management model to analyse the situation monitorchanges-Skills: Skills refer to the unique characteristics and knowledge of a company thatdifferentiates them from the rest of the competitors. Caffeine restaurant's restaurants'4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Entrepreneurial strategies - Assignment
|12
|4342
|79

Entrepreneurial Strategy Assignment - Tavistock House Hotel
|15
|3854
|479

Entrepreneurial Strategy Framework PDF
|14
|4424
|29

Entrepreneurial Strategy Assignment
|17
|4014
|253

ENTREPRENEURIAL STRATEGY OF SME
|15
|3924
|133

Business Strategy Assignment : RED & BLUE restaurant
|13
|4097
|16